When I start the car the voltmeter is straight up as it shold be and it will stay roughly there until I get over 2200 RPM then it starts to peg over into the red  at about 16 or 17.  IF i go back to idle like at a stop sign it will go back to normal.  But immediately goes back almost to the red on acceleration.  But here is the thing, after driving for about 1 hour the needle starts to return to almost normal.  I just happened to replace the ignition module the other day that seemed to help.  I am thinking the voltage regulator is bad but would like some thoughts before I spend the money.  BTW I had a friend check the voltage output at battery and alternator and both were fine at idle.
Any suggestions or thoughts would be helpful and appreciated.
Thanks

Did you check the voltage at the alt. @2200 rpm, also? I would do that, to determine if the alt. is actually putting out too much, or if there is a problem with the gauge/wiring.